Which of the Following Is an Exception to the General

question 63

Multiple Choice

Which of the following is an exception to the general rule that rights to a contract cannot be assigned when a contract is personal in nature?

• A)When nothing has been done on the contract at all.
• B)When the only part of a contract left to be fulfilled is the payment.
• C)When no more than three-fourths of the contractual duties have been performed.
• D)When no more than half the contractual duties have been performed.
• E)There is no exception because rights to a contract that is personal in nature may generally be assigned.

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Definitions:

Check Collection

The process where banks handle checks from the moment they are deposited until the funds are credited to the depositor's account and debited from the check writer's account.

Payment

The act of giving money or other compensation to settle a debt or obligation.

Certified Checks

Checks guaranteed by a bank, verifying that the signer has enough funds in their account to cover the amount specified on the check.

Dishonored

In financial terms, a dishonored instrument (like a check) refers to one that cannot be processed because the payor's account lacks sufficient funds or is closed.